The Argentine Peso has experienced a sudden fall vs the U.S. dollar, falling to a 5-month low in its blue rate, one of the many parallel exchange rates of the country. The reasons for this fall, besides the abundance of pesos due to holiday-related payments, and the battle between President Alberto Fernandez and Argentine courts.
Argentine Peso Falls Sharply Against the US Dollar
The Argentine peso is facing a sudden downturn that has taken the value of the currency to historic lows. On Dec. 23, local media informed one of the informal exchange rates of the currency vs the U.S. dollar, denominated “blue dollar,” had reached the 340 pesos mark. This marks a 5-month low after a period in which the peso maintained its value relatively steady.
The last time that the peso plunged in this way was in July when the country was also submerged in a period of political instability with the resignation of Finance Minister Martin Guzman. The historical minimum exchange rate is 350 pesos per U.S
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